S hopping C enters P ennsylvania
M id A tlantic Real Estate Journal — Pennsylvania — February 19 - March 12, 2021 — 13B
www.marej.com
The Capital Markets team representing the sponsor was led by Jon Mikula & John Plower JLL arranges a partnership for the acquisition of a 18.31-acre land site& the development of ind. facility F
location in the live-work-play community of Bala Cynwyd, which has historically been one of Philadelphia’s strongest performing submarkets. The six-story building is positioned on 6.5 acres and is proximate to major highways, including the Schuylkill Expressway and US Rte. 1 with easy access to Rte. 3 and I-476. Additionally, the property is just one mile from the Bala Train Station for service into Center City Phila- delphia approximately seven miles away. Recently renovated, 150 Monument Rd. is leased to a diverse rent roll of tenants comprising both national in- vestment grade and an array of smaller, regional tenants. The property features floor plates of approximately 20,500 square feet and offers on-site parking in a four-story parking structure. The JLL Capital Markets team representing the seller was led by managing director Brett Segal and senior managing director Doug Rodio . MAREJ
AIRLESS HILLS, PA — JLL Capital Mar- kets announced that it has arranged a partnership for the acquisition of a 18.31-acre land site and the development of a 225,000 s/f light/bulk dis- tribution industrial facility at 85 Fairless Dr. in the Bucks County community of Fairless Hills. JLL worked on behalf of J.G. Petrucci Company, Inc. to arrange the partnership with Cabot Properties, Inc. With a target completion year of 2021, 85 Ben Fairless Dr. will feature 36-foot clear heights, 45 dock positions, 50 trailer spaces and 172 park- ing stalls. The building will be constructed in Fairless Hills, which is approximately 26 miles northeast of downtown Philadelphia. Situated along the I-95 Corridor, the location provides direct access to Phila- delphia and the New Jersey Turnpike providing unparallel access to the region’s primary transportation arteries. The JLL Capital Markets
85 Fairless Dr. in the Bucks County strong, mature industrial mar- ket with high barriers to entry and limited development oppor- tunities,” Plower added. “This is a tremendous opportunity, and we’re excited to follow it through to its conclusion.” BALACYNWYD, PA —JLL Capital Markets has completed the sale of 150 Monument Rd., a 132,986 s/f, class A office
building in Bala Cynwyd, a suburb of Philadelphia. JLL marketed the prop- erty on behalf of the seller, Keystone Property Group and procured the buyer, FLD Group . Acquisition financing was provided by MidCap Fi- nancial Services, LLC . 150 Monument Rd. is posi- tioned within an amenity-rich
team representing the sponsor was led by senior managing di- rectors Jon Mikula and John Plower . “We are excited to have been a part of this transaction and to have introduced two excep- tional JLL clients in what will be a long-term relationship,” Mikula said. “Bucks County is a very
Lee & Associates of Eastern Pennsylvania arranges $12.2M sale of a 3-building, class A office campus
between Philadelphia and Princeton. The highly edu- cated workforce, competitive rental rates and low-income tax structure have attracted both tenants and investors to this area in recent years,” added Hill. The sale of Cricklewood Green represents the second major transaction that the Capital Markets Group has recently been involved with in this submarket. Last No- vember, the team brokered the sale of 100 Brandywine Boulevard, also located in Newtown, which is a Class A,101,450 s/f office building, for $18.0 million. Since 2018, the Yoshimura/Hill Capital Markets Group has brokered over $103.0 million of sales and 650,000 s/f of office prod- uct within the Newtown & Yardley submarkets. MAREJ
NEWTOWN, PA — The Capital Markets Group, headed by Bob Yoshimura and Joe Hill, from Lee & Associates of Eastern Pennsylvania (LAEP) orchestrated the $12.2 million sale of Cricklewood Green, a three-building, 81,640 s/f, class A office campus lo- cated at 1-5 Caufield Place in Newtown. Metropolitan Commercial Development purchased the portfolio from Cricklewood Realty Invest- ments LP . At the time of sale, the three existing buildings on site were 84.0% leased by five tenants. The Capital Markets Group consisting of Bob Yoshimura, Joe Hill, Eric Mattson and Joe Hill, Jr., in conjunction with Gene McHale from Beacon Commercial Real Estate , represented Crickle- wood Realty Investments
1-5 Caufield Place in Newtown more, with just over 15% of the existing buildings cur- rently unoccupied, and with the ability to construct ad- ditional buildings on site, the transaction represents a ma- jor value-add opportunity for the buyer,” said Yoshimura. The portfolio offers con- venient accessibility from
Philadelphia through Princ- eton, as both cities are lo- cated within approximately 30 minutes of drive-time distance. “The Newtown & Yardley submarkets have rapidly de- veloped into a desirable sub- urban office location for com- panies looking to be situated
LP in the sale. “The buildings are situated in one of the strongest sub- urban office submarkets in the Philadelphia MSA. The portfolio’s prime location off of I-295 combined with its strong in-place tenancy at- tracted an array of investors to this opportunity. Further-
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